Using a Disciplined Approach to Value Investing

Keith Trauner co-founded GoodHaven Capital Management, LLC and is the Co-Managing Partner and Co-Portfolio Manager along with Larry Pitkowsky. He is also the Chairman of the board of trustees of the GoodHaven Funds Trust, which oversees the GoodHaven Fund. Prior to forming GoodHaven, Mr. Trauner was affiliated with Fairholme Capital Management, and from 1999 through late 2008, he held a variety of roles at FCM, including Senior Analyst and Portfolio Manager, Chief Financial Officer and Chief Compliance Officer. In addition, for most of the period from 2002 through 2008, he was a director, the Secretary/Treasurer and a named portfolio manager of FCM’s affiliated mutual fund. Prior to FCM, he founded and managed an investment advisory subsidiary of a private bank for nearly a decade. Profile

TWST: Are there multiple funds at the firm?

Mr. Trauner: We manage a public fund called the GoodHaven Fund, which is a public, no-load, mutual fund whose ticker is